OAR 340-178-0020: Reduced Interest Rate Benefits

(1) Any person qualifying for Tier 1, 2, 3, or 4 UST financial assistance under OAR 340, division 172 will qualify for a reduced interest rate where the person receives a loan for UST project work from a commercial lending institution. (2) In addition to the requirements of section (1) of this rule: (a) A person qualifying for Tier 1 financial assistance is eligible to receive a reduced interest rate of 7.5 percent on a loan for the first $100,000 of eligible UST project costs; (b) A person qualifying for Tier 2 financial assistance is eligible to receive a reduced interest rate of 5.0 percent on a loan for the first $100,000 of eligible UST project costs; (c) A person qualifying for Tier 3 financial assistance is eligible to receive a reduced interest rate of 3.0 percent on a loan for the first $100,000 of eligible UST project costs; and (d) A person qualifying for Tier 4 financial assistance is eligible to receive a reduced interest rate of 1.5 percent on a loan for the first $100,000 of eligible UST project costs.